ASX NEWS & VIEWS

Argosy Minerals Provides Rincon Lithium Project Update

Argosy Minerals Limited advised continued development progress and target timelines for upcoming significant project milestones at its Rincon Lithium Project, located in Salta Province, Argentina.

Argosy Managing Director, Jerko Zuvela said “The Company is hastened to deliver on our key Stage 1 objective of producing battery grade LCE product, and recognise the minor delay in achieving this significant milestone. Considering the industrial scale and transformational nature of such an achievement, I feel it is imperative to ensure these works are conducted in a methodical and meticulous process, and I hope our shareholders recognise this, noting the major advances made on the Rincon Project to date.

The processing works are highly technical and critical to ensure ultimate success, as the Stage 1 flow sheet will be ‘scaled up’ for later stages. Therefore, it is imperative that we demonstrate the right product quality on a scalable and cost competitive basis.

As such, we are targeting completion of Stage 1 processing test-works and LCE product delivery by the end of May, and become the next ASX-listed LCE producer.”

The processing test-works involve a number of complex chemical reaction stages within the plant that require ‘tweaking’ at each stage to ensure the chemical pathway is accurate, to ensure removal of appropriate deleterious elements to be able to produce the final battery grade LCE product.

The test works phase is an intricate ‘stop-start/batch’ process where fine-tuning adjustments are required, with results assessed at each stage within the Company’s in-house laboratory, to then set up the next trial. Given the industrial scale of the plant, it takes time to set up, complete and analyse at each stage.

Based on works to date, the Company is confident the process is well designed to complete the test works phase by the end of May, and will continue works to realise the principal Stage 1 milestone – a scalable, cost effective chemical process solution to produce consistent battery grade LCE product for all development stages, for the joint venture and the Company, and also to provide customer samples, for subsequent initial commercial sales and future sales agreements.

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